We live in an exciting and dynamic digital world where technological innovation, artificial intelligence and programmatic platforms constantly redefine the rules of the game in the advertising industry. Today, brands are taking on the role of value drivers in the digital crowd, ensuring the quality of products and services and attributing value to content. It comes as no surprise then that brand safety has emerged as the cornerstone of successful communication in the digital environment while advertising technology has become the holy grail of digital.
In the article for Cotrugli Business School, Maja Gorjanc, Marketing Partner at iPROM, and Žiga Komac, CRO at iPROM, focused on marketing and advertising and highlighted why it is important for companies to invest in building their own data warehouses today.
The global media landscape and the advertising industry are constantly evolving. With artificial intelligence driving accelerated digitisation and automation, data privacy is becoming an increasingly important topic that marketing departments are actively addressing. With the growing awareness of users’ data rights and the increasing responsibility to safeguard their privacy, companies are restructuring their organisations to meet these demands. iPROM is actively monitoring these developments and proactively adapting to the upcoming changes by providing our clients with the most advanced advertising technology (Ad-Tech) solutions that protect user privacy and safeguard corporate data as a key strategic asset.
Data management has become crucial for the effectiveness of advertising campaigns. At iPROM, we believe that having your own, first-party data collected through digital advertising is crucial. Every euro invested in advertising, where the advertiser is also building their own database, is actually a great investment into a secure future. Companies can use first-party data to run data-driven advertising campaigns and reach their target audiences more effectively, while strengthening and protecting their competitive advantage in the long term.
In an interview with Media Marketing, Matjaž Fajfar, Expansion Manager for Adriatics and DACH at iPROM, outlines iPROM’s mission and strengths, discusses the growing importance of independent advertising technology solutions, and explains why the open web has become a fundamental ecosystem for powerful brands.
Despite uncertain economic conditions, digital advertising continues to grow, much like last year. Investments in digital advertising are firmly rooted in advertising budgets, driven by efficiency, measurability, real-time adaptability, and, most importantly, the ability to effectively reach today’s digitally empowered modern consumers. Therefore, it is imperative for brands to keep track of trends in media consumption, reach customers in a targeted manner and prioritise brand recall and reputation protection.
Private, independent data management platforms for first-party data of users of enterprise-owned media play an important role in protecting data and ensuring user privacy. Unlike walled gardens, which are typically controlled by a single company or organization, private data management platforms enable greater independence in advertising and control over owned data. Investing in private data management platforms has become critical for organizations looking to ensure security, privacy and ePrivacy compliance. This empowers them to manage data effectively, target and personalize marketing efforts, and increase return on advertising investments. iPROM enables its customers to do this with its iPROM Private DMP.
In the first quarter of 2023, the European economy showed encouraging growth indicators, but growth is slowing somewhat due to an uncertain macroeconomic environment and various factors affecting consumer sentiment. In Slovenia, economic growth has slowed compared to the last quarter of 2022. Inflation rates remain high and prices for goods, energy products and services are also rising. This could lead to declining consumer sentiment and a reduction in the consumer confidence indicator later in the year. We live in volatile times, and no one can predict what the second half of the year will bring.
Brands are like signposts for consumers and digital media is at the centre of information gathering where supply and demand intersect. The findings of the International Interactive Advertising Association’s (IAB) latest AdEx 2022 study reaffirm the key role of digital advertising, particularly display advertising, in enhancing brand visibility and establishing brands in a competitive marketplace. Despite the overwhelming volume of communication on the internet, advertisers are steadily increasing their investments in digital media, especially in display advertising based on first-party data. They have recognized the potential of this form of advertising for the long-term effectiveness of advertising efforts, the accurate targeting and the long-term consolidation of brand strength, ultimately resulting in increased sales.
It’s been five years since the General Data Protection Regulation (GDPR) went into effect, giving us all a few extra grey hairs. But it’s important to understand that all our efforts were worthwhile, since we are only now recognising that this was an important milestone in the overall regulation of data protection and privacy. In this post, I will cover the origins of the GDPR, highlight its impact over the past five years, discuss the effectiveness of the regulation, and explain the role of iPROM Private DMP as a solution for advertisers.